Tax Collected at Source under Goods and Services Tax Act 2017 and under Income Tax Act, 1961.
Income Tax : Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens....
CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assista...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resoluti...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : CBDT's new circular relaxes TDS/TCS rules for deceased deductees/collectees before PAN-Aadhaar linking, eliminating tax liability ...
Income Tax : The Orissa High Court quashed prosecution against Kashvi International for delayed TDS deposit, citing COVID-19 and financial hard...
Goods and Services Tax : Madras High Court held that order confirming demand due to mismatch between returns under GST set aside with condition to deposit ...
Income Tax : ITAT Ahmedabad partially upholds CIT(A)'s decision on TCS collection under Section 206C. Analysis focuses on Form 27C delays, proc...
Income Tax : ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor lic...
Corporate Law : Jharkhand High Court directs refund of Tax Collected at Source (TCS) by Central Coalfields Ltd. to R.S. Coke Industries (Pvt) Ltd....
Income Tax : Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buy...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Taxable Value for collection of Tax Collection at Source (TCS) under Income Tax Act-1961 There are lot of confusion over calculation of taxable value for the purpose of collection of TCS under section 206C of Indian Income Tax Act-1961. Some Deductors collect TCS on value excluding of Taxes such as GST, while some collect TCS […]
Tax Collection at Source, more popularly known as TCS, provisions mandate the seller to collect tax from the buyer and deposit the same to the Government. The provision of tax collection at source is contained under section 206C of the Income Tax Act, 1961 and the same are explained briefly in the current article. Guidelines […]
Sharing PPT on TDS and TCS under GST, which was made for presentation at National CA Students Conference, Ernakulam, Kerela 19th – 20th July, 2019.
TDS/ TCS taxpayers & Temp ID holder can now add Bank Account details through Non-Core Amendment of Registration. This will enable them to file refund application on GST Portal.
Article explains Process for making Request for Nil/Lower Deduction/Collection Certificate (Form 13) in Offline Mode for Resident (Covered under Rule 28AB of Income Tax Rules, 1962) and Resident (Not Covered under Rule 28AB). It further explains Important information on Offline “Request for Form 13, Brief Steps of Offline Request for Form 13, Description for requested […]
Article contains E-Tutorial on Form 26QC Correction which includes Important Information for 26QC Correction, Brief steps for 26QC Correction, Description for Requested Status of 26QC Correction, Pictorial guide for 26QC Correction, Procedure for 26QC Correction with E-verify (Internet Banking), Pictorial guide for 26QC Correction with E-Verify (Internet Banking), Pictorial guide for 26QC Correction with DSC […]
Taxpayer can apply for 26QB refund from Assessment Year 2014-15 onwards. It is mandatory to validate the details by digital signature on TRACES to submit the Refund Request. Maximum refund amount will be the available challan balance. Article explains Important Information of 26QB Refund Request, Brief Steps of 26QB Refund Request and Pictorial Guide of […]
Article explains Passwords for TDS / TCS Deductor/Collectors and Taxpayers related to Registration, Conso File, Justification Report, Form 16/16A/27D/TBR, Intimation received through Email, Form 26AS and Form 16B. Passwords for Deductor Functionality Password Example Registration Password must contain a minimum of 8 alpha numeric characters with at least one capital letter. It is applicable for […]
Important Information : Step to Clear Browser cache memory While trying to login to TRACES, user gets error message: Request resource could not be found Or Site is down due to planned maintenance While doing KYC , site is not proceeding further to next step and no Error message is displayed . User logs-Out successfully […]
Article contains Tutorial for PAO on Registration and Login on TRAQCES portal, How to retrieve Password if you forget the same on TRACES Portal, How to view Dashboard & Profile, PAO – Statement Status for a TAN and View AIN – TAN Mapping. A. E -Tutorial PAO Registration and Login PAO Registration –Step 1 PAO […]
